1
April 2024
W E L C O M E
Benefits Summary
Contact Information
Human Resources
www.hr.fsu.edu
(850) 644-6034
Benefits Office
www.hr.fsu.edu/Benefits
retirement@fsu.edu
(850) 644-4015.
Welcome to Florida State University!
FSU is a unique and preeminent public research institution with the
cohesive community of a much smaller school. Ranked in the top 25
among national public universities by U.S. News & World Report, we
continue to uphold a tradition of excellence in academics, research,
student success, and diversity and inclusion. Through the combined
efforts of our faculty and staff, FSU continues to break records and
shatter ceilings. Our success begins with our people, and we are
committed to maximizing what it means to be an FSU employee.
FSU provides a wide array of comprehensive benefits that include
health, professional development, financial, fringe, and wellness
resources. This Benefits Summary provides you with an overview of
FSU’s available benefits and outlines the scope of advantages of
employment at FSU.
Our Benefits office can answer questions that you may have about the
benefits available to you. Our website, www.hr.fsu.edu, also provides a
wide variety of information about plans, vendors, and benefits available
to the campus community.
Benefits Summary Content
Health Plans.................................................... 2
Prescription Plan ............................................ 2
Flexible Spending Accounts ............................ 3
Vision Insurance ............................................. 3
Dental Insurance ............................................ 4
Life Insurance ................................................. 4
State Supplemental Plans ............................... 5
Additional Supplemental Plans ...................... 5
Leave and Holidays ......................................... 6
Paid Time Off .................................................. 6
FMLA .............................................................. 6
Additional Benefits ......................................... 7
Employee Assistance Program ....................... 7
Employer Retirement Plans ........................... 8
Voluntary Retirement Plans ........................... 8
OPS Retirement Plan ...................................... 8
2
H E A L T H I N S U R A N C E
HEALTH INSURANCE HEALTH INSURANCE OPTIONS
ELIGIBILITY
Health insurance is available to Executive Service (AEX),
University Support Personnel System (USPS), Faculty (CTP),
Administrative and Professional (A&P), and eligible OPS
employees. OPS employees that work an average of 30
hours or more per week (0.75 FTE) at the point of hire,
through a Qualifying Status Change (QSC), or over a defined
measurement period, are eligible for State of Florida
benefits.
ENROLLMENT
New employees have 60 days from the date of hire to en-
roll into State of Florida insurance plans. Premiums are paid
one month in advance of coverage. Eligible employees can
enroll through People First, the administrator of state
insurances. Changes can be made when experiencing a
Qualifying Status Change (QSC) event or as a part of the
annual Open Enrollment period.
EFFECTIVE DATE
Health and Prescription coverage can become effective the
first of the month following the month of enrollment.
Employees can enroll beginning the day after their hire date.
PPO OPTION
The PPO health option provides the option to receive care
from any doctor or healthcare provider. The cost for care is
lower when in-network providers are used. Except for most
preventative care, services are not covered until the annual
deductible is met. There is a standard and a High Deductible
Health Plan (HDHP) option available.
HMO OPTION
The HMO health option provides coverage for in-network
providers and facilities, and coverage for health emer-
gencies. The entire cost of the non-network health care
received is the member’s responsibility. HMO companies
vary by region. There is a High Deductible Health Plan
(HDHP) option and a standard health plan option available.
PRESCRIPTION DRUG PLAN
Offered by Optum Rx and provides benefits for all
health insurance options. PPO members must use the 90-
day supply fill option for maintenance drugs. This can be
filled by mail order or at a participating pharmacy.
HEALTH PLAN SUMMARY COMPARISON CHART
Your
Costs:
Standard
High
Deductible
(Pair
with
Health
Savings
Account)
HMO
PPO
HMO and
PPO
PPO
Only
Network
Only
Network
Out
of
Network
Network
Out
of
Network
Annual
Deductible
None
$250
I
$500
Single
I
Family
$750 I
$1,500
Single
I
Family
$1,500
I
$3,000
Single
I
Family
$2,500
I
$5,000
Single
I
Family
Global In-Network Annual
Out-
of-Pocket Maximum
$9,450 I
$18,900
per indiv
I
per
family
(pharmacy
and
medical)
$9,450 I
$18,900
per indiv
I
per
family
(pharmacy
and
medical)
N/A
$4,600
I
$9,200
(PPO)
$3,000
I
$6,000
(HMO)
per indiv
I
per
family
(pharmacy
and
medical)
N/A
Preventive
Care
Based
on
age
and
gender
No
charge
No
charge;
no
deductible
Amount between charge
and
out-of-
network
allowance;
no
deductible
No
charge;
no
deductible
Amount between charge
and
out-of-
network
allowance;
no
deductible
Primary
Care
$20
copayment
$15
copayment
40%
of
out-of-network
allowance
plus
the
amount
between
the
charge
and
the out-of-network allowance
Deductible then 20% of
network
allowed amount
Deductible
then
40%
of
out-of-network
allowance
plus
amount
between
charge
and out-of-network allowance
Specialist
$40
copayment
$25
copayment
Urgent
Care
$25
copayment
$25
copayment
$25
copayment
Deductible then 20% of
out-of-
network allowance
Deductible
then
20%
of
out-of-network
allowance
Emergency
Room
$100
copayment
$100
copayment
$100
copayment
Hospital
Stay
$250
copayment
20%
after
$250
copayment
40% after $500 copayment
plus the
amount between charge and out-of-
network allowance
Deductible then 20% of
network
allowed amount
Deductible,
$1,000
copay,
then
40%
o
out-of-network
allowance
plus
amount
between
charge
and out-of-network
allowance
Prescriptions
Generic Drugs
I Preferred Brand I
Non-Preferred Brand
$7
I
$30
I
$50
Network
Retail
(up
to
30‐day
supply)
Pay in full; file
claim for
reimbursement
After
paying
deductible,
30% I 30% I 30%
Network
Retail
and
Mail
Order
Pay in full; file claim for
reimbursement
$14 I
$60
I
$100
Mail
Order
to
Participating
90‐Day
Retail
(up
to
90‐Day
Supply)
Monthly Premiums
Premiums are deducted
a
Month in
Advance (e.g.
December
for January
coverage)
USPS
I
A&P
I
Faculty
$50.00
Single
$180
Family
$15.00
Single
$64.30
Family
Executive
Service
$8.34
Single
$30.00
Family
$8.34
Single
$30.00
Family
Spouse
Program
$30.00
($15
each
employee)
$30.00
($15
each
employee)
SPOUSE PROGRAM
HEALTH SAVINGS ACCOUNT (HSA)
The Spouse Program provides family health insurance at a
reduced premium for two employees who are married to
each other. One spouse serves as primary on the account.
Each full-time spouse pays $15 per month for family
coverage. To enroll, you and your spouse must
complete and sign the Election Form and submit the
completed form to the address on the form or submit
the form on-line through People First.
SHARED SAVINGS PROGRAM
The Shared Savings Program is a rewards program available
to employees and their dependents enrolled in a State of
Florida health plan. The purpose of the Shared Savings
Program is to reduce healthcare costs for the State of
Florida and to reward employees for making informed and
cost-effective decisions about healthcare services.
Employees can earn rewards by using HealthCare Bluebook
and SurgeryPlus. Earned rewards can be used to pay for
eligible medical, dental, and vision expenses.
Enrollment and changes are made through People First.
FLEXIBLE SPENDING ACCOUNTS (FSA)
The state offers three Flexible Spending Accounts (FSAs) to
eligible employees that provide a tax break on predictable
out-of-pocket costs. Pre-tax contributions are made during
the calendar year, January 1 - December 31. Participants
receive a Chard Snyder Benny Card to use for eligible
expenses.
Enrollment and changes are made through People First.
FSA CONTRIBUTIONS
A Health Savings Account (HSA) is a tax-advantaged
account employees should have if enrolled in a High
Deductible Health Plan (HDHP). Pre-tax contributions are
available to pay for eligible healthcare expenses like
deductibles and coinsurance. Employees will receive the
state’s monthly deposit of $41.66 for single coverage and
$83.33 for family coverage. Unused funds roll over each
year and are portable once state employment ends.
SHARED SAVINGS PROGRAM OPTIONS
HEALTHCARE BLUEBOOK
Healthcare Bluebook is an online transparency website to
shop for healthcare services, facilities, and providers.
Rewards can be earned for choosing services that are rated
green and provide a cost savings to the state.
SURGERY PLUS
Surgery Plus is a benefit that provides pre-planned, non-
emergency surgical services. Surgical procedures will be
covered by State of Florida insurance; however, Surgery Plus
bundles services together for one bundled payment.
HEALTH REIMBURSEMENT ACCOUNT (HRA)
With an HRA account, employees receive reward
contributions that are earned from participating in the
shared savings program. Funds earned can be used to pay
for eligible medical, dental, vision, and prescription drug
expenses.
FLEXIBLE SPENDING ACCOUNT OPTIONS
HEALTHCARE FSA
A HealthCare FSA is an account that eligible employees
contribute pre-tax money to in order to pay for eligible
medical, dental, vision, and prescription drug expenses.
DEPENDENT CARE FSA
A Dependent Care FSA is an account that eligible employees
can use to reimburse eligible services to care for children
age 13 and under, or an older dependent who needs
supervised care.
LIMITED PURPOSE FSA
A Limited Purpose FSA is an account that employees
enrolled in a High Deductible Health Plan (HDHP) can
contribute pre-tax money to for eligible dental, vision, and
preventative services not covered by a Health Savings
Account (HSA).
VISION INSURANCE
Employees have access to competitive vision coverage at affordable rates through Humana Vision. The plan provides in-
network coverage and non-network allowances for glasses and contacts. Employees receive a wholesale discount on frames
every 24 months and a glasses lens or contact lens benefit every 12 months. Enrollment and election changes are made
through People First.
VISION INSURANCE MONTHLY PREMIUM
Employee Only
Employee + Spouse
Employee + Child(ren)
Employee + Family
Humana Vision
$5.92
$11.68
$11.56
$18.16
3
F L E X I B L E
S P E N D I N G
A C C O U N T S
Minimum
Maximum
Carry Over
HealthCare
$60
$3,200 $640
Limited Purpose
$60
$3,200 $640
Dependent Care
$60
$5,000
NONE
DENTAL INSURANCE
The State of Florida offers comprehensive dental coverage through a variety of providers. Coverage is effective the first day of the
month following one month’s full premium deduction. Enrollment and election changes are completed by the employee
through People First.
DENTAL PLAN COMPARISON CHART
Type of Dental Plan
Plan
Code
Plan Name
Monthly Premiums
Employe
e
Only
Employee
+
Spouse
Employee
+
Child(ren)
Employee
+ Family
Prepaid Dental Plan
•
Pays benefits only when you use network providers
•
No deductible or annual maximum
•
Most preventive care at no charge
•
Pay a fixed copayment for other dental procedures
Orthodontia: Covered for adults and children
(excluding Preventive PPO).
4034
CIGNA Dental
$22.81 $44.94 $53.59 $68.46
4025
Sun Life Dental
$14.93
$25.17
$33.26
$43.54
4044
Humana HD205 Dental
$12.64
$21.20
$23.00
$32.98
PPO Dental Plan
•
Receive care from any dentist
•
Your cost is lower when you use network dentists
•
You generally have an annual deductible to meet
before the plan starts paying benefits, and then you
pay partof the cost for the services you receive.
•
Orthodontia: Covered for adults and children
(excluding Preventive PPO).
4023
Ameritas Preventive
$21.64
$40.92
$43.80
$64.16
4094
Humana Preventive
$20.52
$37.98
$42.44
$61.60
4033
MetLife Preventive
$18.32
$33.86
$37.84
$54.94
4022
Ameritas Standard
$31.64
$59.24
$66.32
$96.56
4092
Humana Standard
$30.64
$56.70
$63.36
$91.98
4032
MetLife Standard
$36.24
$67.04
$74.90
$108.76
Indemnity with PPO Dental Plan
•
Receive care from any dentist
•
Your cost is lower when you use network dentists
•
You generally have an annual deductible to meet
before the plan starts paying benefits, and then
you pay a percentage of the cost for the services
you receive.
•
Orthodontia: Child only orthodontia covered by Sun Life.
4021
Ameritas Indemnity
$47.24
$87.64
$99.80
$144.08
4090
Humana Indemnity
$45.76
$84.66
$94.60
$137.34
4031
MetLife Indemnity
$46.16
$85.38
$95.42
$138.52
4074
Sun Life Indemnity PPO
$43.55
$83.61
$98.83
$130.35
Indemnity PPO Dental Plan
•
Receive care from any dentist
•
You have a deductible to meet and then pay part of
the cost for the services you receive.
4084
Humana Schedule B
$14.74
$21.96
$23.30
$37.10
LIFE INSURANCE
The State of Florida offers group term life insurance to eligible employees and their eligible dependents. Life insurance policies
are offered by Securian Financial. Additional benefits and services, such as legal services, life events, and milestone services,
are available to plan participants. Enrollment and election changes are completed by the employee through People First.
LIFE INSURANCE OPTIONS
BASIC LIFE INSURANCE
FSU covers the cost of this life insurance policy for all
full-time employees. Coverage is valued
at $25,000. Part-
time employees pay a prorated amount and OPS pay the
full premium. Full-time employees are automatically
enrolled upon employment.
OPTIONAL LIFE INSURANCE
Employees enrolled in basic life insurances (not OPS)
can also elect additional coverage between 1 and 7 times
your salary, up to a maximum of $1,000,000. Medical
underwriting may be required. The cost is based on age
and the amount selected. This benefit is paid by the
employee.
DEPENDENT SPOUSE LIFE INSURNACE
Employees can elect dependent spouse life coverage. Two
benefit amounts are available: $15,000 and $20,000.
Coverage is guaranteed issue if elected when spouse
is first eligible, otherwise, medical underwriting is
required. This benefit is paid by the employee.
DEPENDENT CHILD LIFE INSURANCE
Employees enrolled in basic life insurance can also
elect dependent child life insurance. The benefit for this
coverage is $10,000 and covers all eligible children. This is
paid for by the employee.
4
D E N T A L
A N D
L I F E
I N S U R A N C E
S U P P L E M E N T A L
P L A N S
SUPPLEMENTAL INSURANCE PLANS
The following supplemental benefit plans are fully funded by the employee. Costs vary by plan and coverage level. Coverage
is effective on the first day of the month following one full month’s premium deduction. Individual enrollment is necessary.
SUPPLEMENTAL INSURANCE PLAN OPTIONS
ACCIDENT PLANS
Accident plans help pay for expenses when an employee
becomes injured during a covered accident. Coverage is
available through Colonial Life.
CANCER PLANS
Depending on the coverage chosen, this policy helps to
offset some of the expenses of a cancer diagnosis and
treatment. Coverage is available from AFLAC through
Capital Insurance Company and Colonial Life.
INTENSIVE CARE PLANS
Coverage is available from AFLAC through Capital
Insurance Agency. This policy has a daily benefit for stays in
a hospital intensive care unit.
EXECUTIVE SERVICE DISABILITY PLAN
Executive Service employees are automatically enrolled in a
state disability policy that FSU pays. This policy provides
one year of income replacement at a reduced rate in the
event of a disability.
SHORT TERM DISABILITY
Coverage is available through Colonial Life. This policy helps
supplement your income during a short-term disability.
Depending on the level of coverage selected, it can pay up
to 66% of your income.
HOSPITALIZATION PLANS
Coverage is available from Cigna through Capital Insurance
Agency, and New Era through State Securities Corp. This
policy pays daily payments while in the hospital.
ADDITIONAL SUPPLEMENTAL INSURANCE PLANS
The following supplemental benefit plans are fully paid through post-tax payroll deductions by the employee. Costs vary by
plan and coverage level chosen. Individual enrollment in the following plans is through the company that it is offered with.
The effective date of coverage is determined at enrollment. Most plans are offered guaranteed issue to eligible new
employees within 60 days of employment.
ADDITIONAL SUPPLEMENTAL INSURANCE PLAN OPTIONS
ACCIDENTAL DEATH & DISMEMBERMENT offers low
cost supplemental coverage that provides benefits in the
event of an accidental death or dismemberment (including
family members) for one low group rate. Guaranteed issue
to all new full-time employees. Enroll with Gabor Financial
Solutions.
LONG TERM DISABILITY provides an inexpensive way to
help protect your income, your family, and yourself from
loss due to an unexpected illness or injury. Replaces up to
60% of your income and begins after either 30 or 90 days.
Enroll with Gabor Financial Solutions.
LONG TERM CARE provides assistance needed if you
become chronically ill and are unable to handle activities of
daily living. Covered services include assistance received at
home, community adult day care center, hospice care
facility, assisted living facility, or nursing home. Coverage is
portable. Enroll with Gabor Financial Solutions.
CRITICAL
ILLNESS p r o v i d e s assistance with paying
medical, travel, and treatment expenses for critical
illnesses that are not covered by health insurance. Enroll
with Colonial Life.
LEGAL SERVICES AND IDENTITY PROTECTION is an
option available with US Legal. Services include legal
advice, estate planning, custody, credit monitoring and
other identity and legal services. Enroll with US Legal.
5
GABOR FINANCIAL SOLUTIONS LIFE INSURANCE
OPTIONS
WHOLE LIFE with Mass Mutual offers permanent
protection. It guarantees a death benefit, level premium
and increases in cash value. It is offered to benefit eligible
employees on a guaranteed issue basis or simplified
underwriting up to $250,000. You can also get coverage for
your spouse. Enroll with Gabor Financial Solutions.
GROUP TERM LIFE is underwritten by Standard
Insurance Company. Guaranteed issue with no medical
exam during the first 60 days of employment. Coverage
is up to four times your salary with a maximum of
$200,000. Spouses are also eligible for guaranteed
coverage up to $50,000. Enroll with Gabor Financial
Solutions.
TERM LIFE is underwritten by Symetra Life Insurance
Company. Employees can choose a term of 10, 15, 20 or
30 years. It includes advance access if diagnosed with a
terminal illness. Enroll with Gabor Financial Solutions
L E A V E
LEAVE AND HOLIDAYS
FSU offers generous leave benefits to our benefit-eligible Executive Service, Faculty, A&P, and USPS employees. Eligible
employees begin to accrue Annual and Sick Leave hours upon employment. Leave accrued is credited at the end of the
pay period or the last day an employee is on the payroll, due to separation prior to the end of the pay period. Accrual for
part-time employees is based on the number of hours in paid status during the pay period.
SICK AND ANNUAL LEAVE ACCRUALS
ANNUAL LEAVE (Vacation) - Faculty (12 month), A&P, and USPS
Annual Leave is accrued by eligible employees in pay status and is credited on
the last day of the pay period. The accrual rate is prorated when on leave without
pay and for part-time employees.
SICK LEAVE - Faculty, A&P, and USPS
Sick Leave is accrued by eligible employees in pay status and is credited on the
last day of the pay period. The accrual rate is prorated when on leave without
pay and for part-time employees.
EXECUTIVE SERVICE LEAVE
Annual and sick leave is accrued by eligible Executive Service employees and is credited on the last day of the pay period.
The accrual rate is prorated when on leave without pay and for part-time employees.
SICK LEAVE POOL - Faculty, A&P, and USPS
Employees who join the Sick Leave Pool may request and receive up to 480 hours in a 12-month period for their serious
illness or severe injury after using all earned sick, annual (vacation), personal holiday and compensatory leave. Members
may be granted a lifetime maximum of 960 hours during their employment with FSU. The use of hours from the Sick Leave
Pool is for a member employee's serious or catastrophic health condition. Applicants must meet eligibility requirements
to be accepted.
PERSONAL HOLIDAY - USPS
Each full-time USPS employee is entitled to one personal holiday each University fiscal year with appropriate accrual for
less than full-time employment. The personal holiday will be credited to eligible employees on July 1 of each year to be
taken by June 30 of the following year. The personal holiday must be used in full and can’t be split for use on multiple days.
ADMINISTRATIVE LEAVE - Executive Service, Faculty, A&P, and USPS
Administrative Leave may be granted to Executive Service, Faculty, A&P or USPS employees to cover absences from work
for specific events such as: death of a family member, legal matters, military situations, emergency closure, and any other
closure as authorized by the University President. With absences for these specific purposes, an employee is not
required to use any type of accrued or earned leave to cover the absence.
PAID TIME OFF (PTO) - Postdoctoral Scholars
PTO is granted to postdoctoral scholars and accrues at a rate of 4 hours each bi-weekly pay period while in full-time pay
status. Postdoctoral scholars less than full time will accrue a prorated amount. It may be used for vacation, personal
reasons, illness or any other purpose.
PARENTAL LEAVE - Executive Service, Faculty, A&P, USPS, and OPS
The University offers up to six months of unpaid leave for the birth or adoption of a child. The parental leave may
run concurrently with Family Medical Leave entitlements.
PAID PARENTAL LEAVE - Faculty
The University offers faculty members (excluding University School Instructors) a one-time paid leave, for up to six months,
for the birth or adoption of a child. The parental leave may run concurrently with Family Medical Leave entitlements.
FAMILY MEDICAL LEAVE ACT (FMLA)
FMLA is a federal law enacted to assist employees in maintaining a balance between work and family responsibilities. It
provides eligible employees unpaid job-protected leave for qualifying events. All FSU employees are eligible for Family
and Medical Leave (FML), including OPS employees, as long as they meet federal work requirements. Eligibility is
established by the Fair Labor Standards Act (FLSA) principles for determining compensable hours for work. The
University uses a ‘rolling’ 12-month period rather than a calendar or academic year.
6
Annual Sick
Leave Leave
Faculty
(12 Month)
6.769
4
Bi-Weekly
Accruals
A & P
6.769
4
Executive Service
9.195
5
USPS (
Months of Service)
0 - 6
4
4
7-
60
4
4
61 - 120
5
4
Over 120
6
4
EMPLOYEE TUITION SCHOLARSHIP PROGRAM
Florida State University provides the opportunity for the University's employees to take up to two courses or six hours of
course work per academic term tuition-free. To be eligible, employees must be a full-time (1.0 FTE), salaried (AEX, A&P,
Faculty and USPS) employee and, if currently enrolled, be in good academic standing.
EMPLOYEE DEPENDENT TUITION SCHOLARSHIP
Florida State University provides dependent children of full-time faculty and staff with a scholarship opportunity to obtain
tuition assistance for an undergraduate education at FSU. Human Resources will choose at random from a pool of applicants
a limited number of eligible dependent children of qualified faculty and staff.
TRAINING & ORGANIZATIONAL DEVELOPMENT
Florida State University's Office of Training & Organizational Development (TOD) is responsible for assisting in the
achievement of the University’s strategic goals and objectives through a focused delivery of workplace training and
personal development. Employees are encouraged to take advantage of various training opportunities.
PAYROLL
All employees are required to participate in the University’s Direct Deposit program as a condition of employment. New
employees must sign up for mandatory direct deposit when they complete their onboarding process. Changes can be made
at any time through OMNI Employee Self Service.
FITNESS FACILITIES
Faculty and staff may purchase annual memberships to the Leach Recreation Center and the Fitness and Movement Clinic.
Payroll deduction is available.
FACULTY/STAFF MEAL PLANS
Faculty and staff can save at every on-campus meal by purchasing a meal plan, which can be paid for by payroll deduction.
Flexible meal plan options are available for as little as $6 per meal.
PARKING AND TRANSPORTATION
Parking permits are required to park on campus 24/7. Permits are issued to a specific individual and may not be transferred
to another person. There are various permit types to provide equitable access to specific parking areas. Each permit is
restricted to the parking location that matches the letter on the permit as assigned. Employees must register their vehicle(s)
by going online or visiting the Parking & Transportation Services office.
FLORIDA PREPAID COLLEGE PLAN
A Florida Prepaid College Plan allows employees to lock in college plan prices and prepay, on a bi-weekly deduction
schedule, the future cost of college tuition, tuition differential fees, local fees, and dormitory housing. Employees can enroll
into a Florida Prepaid account at anytime.
FLORIDA 529 PLAN
A Florida 529 Plan is an investment account that provides a flexible and tax-free way to save for college expenses.
Investment earnings are not taxed as long as they are used for qualified educational expenses. Employees can enroll into a
Florida 529 account at any time.
EMPLOYEE ASSISTANCE PROGRAM
The Employee Assistance Program (EAP) is a free, confidential program that provides a professional
support system for faculty and staff. EAP is committed to improving the well-being of FSU employees
through a program that addresses personal and/or workplace difficulties with the help of licensed
mental health professionals. Employees have access to short-term counseling, supervisor consults,
organizational development opportunities, mediation services, and an emergency loan program.
7
A D D I T I O N A
B E N E F I T S
EMPLOYER-SPONSORED RETIREMENT PLANS
All Executive Service, Faculty, A&P, and USPS employees participate in a State of Florida retirement program. These plans
are primarily employer-funded accounts with employees making a mandatory 3% contribution regardless of the plan
chosen. Plan participation is based on position type.
Faculty in the College of Medicine are mandatory SUSORP participants. USPS employees will elect to participate in either
the FRS Pension Plan or the FRS Investment Plan.
Employee
Type
Retirement
Plan
Vesting Period
Enrollment
Form(s)
Enrollment Deadline
A&P, Executive
Service, Faculty
SUSORP
None
ORP-ENROLL-1
90 days from hire date.
FRS Pension
FRS Investment
8 years
1 year
ORP-ENROLL-1 and
ELE-1-EZ
The last business day of the 8
th
month after month of hire.
USPS
FRS Pension
FRS Investment
8 years
1 year
ELE-1-EZ
The last business day of the 8th
month after month of hire.
EMPLOYER-SPONSORED RETIREMENT PLAN OPTIONS
FLORIDA RETIREMENT SYSTEM (FRS) PENSION PLAN
The FRS Pension Plan is a defined benefit plan. Participants are vested upon completion of 8 years of creditable service
and eligible to receive a lifetime monthly benefit at retirement.
FLORIDA RETIREMENT SYSTEM (FRS) INVESTMENT PLAN
The FRS Investment Plan is a defined contribution plan. Participants are vested upon completion of 1 year of creditable
service and decide how to allocate contributions among offered investment funds. The amount of the retirement benefit is
determined by the employer and employee contributions and the performance of the investment fund choices.
STATE UNIVERSITY SYSTEM OPTIONAL RETIREMENT PROGRAM (SUSORP)
The SUSORP is a defined contribution plan. Participants are vested immediately once enrolled and decide which approved
SUSORP provider company, or companies, to invest their funds. The amount of the retirement benefit is determined by the
employer and employee contributions and the performance of the investment funds.
VOLUNTARY RETIREMENT PLANS
Florida State University offers all eligible employees the
opportunity to participate in voluntary retirement plans.
These retirement plans offer employees the opportunity to
save pre-tax and post-tax money for retirement, up to the
IRS limit for each plan type.
Participation is voluntary and deposits are made through
payroll deduction. Employees may enroll and make changes
to contributions at any time.
VOLUNTARY RETIREMENT PLAN OPTIONS
403(b) SAVINGS PLAN
All employees can participate in a voluntary 403(b)
Savings Plan. Contributions are payroll deducted on a pre-
tax basis and are forwarded to a participating investment
company.
ROTH 403(b) SAVINGS PLAN
All employees can participate in a Roth 403(b) Plan.
Contributions are payroll deducted on a post-tax basis and
are forwarded to a participating investment company.
IRS 2023 CONTRIBUTION LIMIT
FLORIDA DEFERRED COMPENSATION 457 PLAN
Employees may participate in a Deferred Compensation
457 Plan. Enrollment is completed through one of the
approved provider companies or through the Florida
Deferred Compensation Office.
OPS EMPLOYEE RETIREMENT PLAN
401(a) FICA ALTERNATIVE PLAN
Eligible Temporary employees who are not exempt from social security taxes participate in the FICA Alternative Plan
through Bencor. Employees are automatically enrolled and unenrolled based on their salary plan status. Participants
contribute 7.5% of their wages into a 401(a) investment account instead of paying social security payroll taxes. The account
is portable upon separation from the University or entering a position covered by the State of Florida Retirement
program.
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R E T I R E M E N T
P L A N S
Age
Contribution
Limit
< 50
$23,000
50 <
$30,500
